
Emerging market bond awards 2011
EuroWeek asked emerging market teams at the leading investment banks in the international bond markets for their views on the best deals of 2011. Bankers nominated their preferred deals for a shortlist. Then, excluding the deals they had worked on, they were asked to choose the best deals from that shortlist. Here are the results.
OVERALL EMERGING MARKET DEAL OF THE YEAR
1. IPIC
1.25bn 4.875% May 2016
1.25bn 5.875% March 2021
£550m 6.875% March 2026
BNP Paribas, Crédit Agricole, Deutsche Bank, Goldman Sachs, Santander, UniCredit
2. VimpelCom
$200m June 2014 FRN
$500m 6.2546% March 2017
$1.5bn 7.5043% March 2022
Barclays Capital, BNP Paribas, Citi, ING, HSBC, Royal Bank of Scotland
3. Republic of Hungary
$3bn 6.375% March 2021
$750m 7.625% March 2041
BNP Paribas, Citi, Deutsche Bank
EMERGING MARKET SOVEREIGN DEAL OF THE YEAR
1. Republic of Hungary
$3bn 6.375% March 2021
$750m 7.625% March 2041
BNP Paribas, Citi, Deutsche Bank
2. Republic of Turkey
¥180bn 1.87% March 2021
Daiwa, Mizuho, Morgan Stanley
3. Republic of Namibia
$500m 5.5% November 2021
Barclays Capital, Standard Bank
ISLAMIC FINANCE DEAL OF THE YEAR
1. Emaar Sukuk
$500m 8.5% August 2016
HSBC, Royal Bank of Scotland,
Standard Chartered
2. Malaysia
(Wakala Global Sukuk)
$1.2bn 2.991% July 2016
$800m 4.646% July 2021
CIMB, Citi, HSBC, Maybank Investment Bank
3. Bahrain
(CBB International Sukuk)
$750m 6.265% November 2018
BNP Paribas, Citi, Standard Chartered
EASTERN EUROPEAN DEAL OF THE YEAR
1. Republic of Hungary
$3bn 6.375% March 2021
$750m 7.625% March 2041
BNP Paribas, Citi, Deutsche Bank
2. VimpelCom
$200m June 2014 FRN
$500m 6.2546% March 2017
$1.5bn 7.5043% March 2022
Barclays Capital, BNP Paribas, Citi, ING, HSBC, Royal Bank of Scotland
3. Russian Federation
Rb40bn (increased to Rb90bn) 7.85% March 2018
Deutsche Bank, HSBC, JP Morgan,
Renaissance Capital, VTB Capital
EMERGING MARKET FINANCIAL INSTITUTION DEAL OF THE YEAR
1. Alfa-Bank
$1bn 7.75% April 2021
Alfa-Bank, Goldman Sachs, UBS
2. Bancolombia
$1bn 5.95% June 2021
Bank of America Merrill Lynch, JP Morgan
3. Sberbank
$1bn 5.717% June 2021
Deutsche Bank, HSBC, JP Morgan,
Royal Bank of Scotland
EMERGING MARKET RESTRUCTURING DEAL OF THE YEAR
1. Mobile TeleSystems
Consent solicitation $1.5bn of
2012 and 2020 bonds
Royal Bank of Scotland
2. Odebrecht
$1.1bn of April 2014, October 2017
and April 2020 bonds
Bank of America Merrill Lynch, HSBC
3= Emirates NBD
Exchange of $514m lower tier two bonds
HSBC, UBS
3= Republic of Senegal
$500m 9.125% May 2021 new issue
and exchange
Standard Bank, Standard Chartered
MIDDLE EASTERN DEAL OF THE YEAR
1= Emirates Airlines
$1bn 5.125% June 2016
Deutsche Bank, Emirates NBD, HSBC,
Morgan Stanley
1= IPIC
1.25bn 4.875% May 2016
1.25bn 5.875% March 2021
£550m 6.875% March 2026
BNP Paribas, Crédit Agricole, Deutsche Bank, Goldman Sachs, Santander, UniCredit
3. Türk Eximbank
$500m 5.375% November 2016
Barclays Capital, Citi, Commerzbank, ING
LATIN AMERICAN DEAL OF THE YEAR
1. América Móvil
1bn 4.125% October 2019
£500m 5% October 2026
Deutsche Bank, Credit Suisse, HSBC
2. América Móvil
$2bn 2.375% September 2016
$750m (tap) 6.125% March 2040
Bank of America Merrill Lynch, JP Morgan
3. Petrobras
$2.5bn 3.875% January 2016
$2.5bn 5.375% January 2021
$1bn 6.75% January 2041
BTG Pactual, Citi, HSBC, Itaú BBA,
JP Morgan, Santander
EMERGING MARKET CORPORATE DEAL OF THE YEAR
1. IPIC
$1.5bn 3.75% March 2017
$1.5bn 5.5% March 2022
$750m 6.875% November 2041
Barclays, Goldman Sachs, JP Morgan,
Mitsubishi, Natixis, Société Generale
2. VimpelCom
$200m June 2014 FRN
$500m 6.2546% March 2017
$1.5bn 7.5043% March 2022
Barclays Capital, BNP Paribas, Citi, ING, HSBC, Royal Bank of Scotland
3. América Móvil
1bn 4.125% Oct 19 / £500m 5% Oct 26
Deutsche Bank, Credit Suisse, HSBC
WORST EMERGING MARKET DEAL OF THE YEAR
1. Republic of Serbia
$1bn 7.25% September 2021
Deutsche Bank, JP Morgan
2. Republic of Belarus
$800m 8.95% January 2018
BNP Paribas, Deutsche Bank,
Royal Bank of Scotland, Sberbank
3. Republic of Turkey
$1bn 6% January 2041
Barclays, Deutsche Bank, JP Morgan